Stephen and Todd, We Hardly Knew Ye

Lee, Shelley A.
April 2005
Journal of Financial Planning;Apr2005, Vol. 18 Issue 4, p10
Academic Journal
The article recalls the success and demise of Stephen Paternot and Todd Krizelman's TheGlobe.com during the Internet boom. Economics Professor Burton Malkiel remembers it well. In fact, he remembers sitting in the green room waiting to go on an early morning television show in November 1998 with Paternot and Krizelman, the first superstars of the Internet boom. Less than three years later, TheGlobe.com closed its web site and went out of business--taking millions of investor dollars with it. The re-telling of TheGlobe.com and its ilk is reason enough to revisit A Random Walk Down Wall Street, Malkiel's now-30-year-old book in 2005. Malkiel has been updating the book about every four years and he would not bet that its next edition, scheduled for 2007, would not have yet another chapter on market mania. Still, he thinks the Internet bubble--lest people forget--may be the biggest bubble of all time.


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